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Zimbabwe’s parastatal rot – when looting becomes second nature

Zimbabwe’s parastatal rot – when looting becomes second nature

Ever wondered why the Zimbabwe Government and its ministers find parastatals attractive despite them costing the taxpayer billions of dollars? Our previous article asked questions on the wisdom of the government taking over Telecel mobile network. This article explores the reasons and why the Telecel conundrum and indeed government ownership of parastatals are attractive to […]

Minister Gives Telecel Zimbabwe ‘to friend and homie’

Minister Gives Telecel Zimbabwe ‘to friend and homie’

INFORMATION Communication Technology Minister Supa Mandiwanzira will force Telecel Zimbabwe’s largest shareholder, VimpelCom, to sell their shares to London-listed investment vehicle, Masawara, New Zimbabwe.com understands. Masawara is registered in the tax haven of Jersey and fronted locally by former TA Holdings chairman, Shingi Mutasa who, according to highly-placed sources outraged by the proposed deal, is […]

Zimbabwean Sex Workers Switch to Mobile Payment Systems

Zimbabwean Sex Workers Switch to Mobile Payment Systems

Sex workers in Harare are now demanding that clients pay for services through mobile platforms to avoid being duped with most now moving around with at least two mobile phones to facilitate transactions. Mobile payment technology was introduced as Zimbabwe struggled with liquidity after ditching the local dollar for foreign currencies in 2009 with the […]

Econet announces acquisition of Telecel Globe

Econet announces acquisition of Telecel Globe

VimpelCom, the parent company of Telecel Globe, has just announced via a press release that it has sold all its shareholding in Telecel Globe to Econet Wireless Global for US $65 million. Effectively, the release says, Econet Wireless now owns U-Com (or Leo, what Telecel is called in Burundi) and Telecel Central African Republic. So […]

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